News Archive - July 2011
To compare or not to compare?
17/07/2011
The internet offers access to lots of information for consumers. There are loads of price comparison websites which allow you to look at comparative prices for your car, household and other insurance as well as mortgage deals, savings accounts, utility bills etc.
In my opinion, this is a good thing. People like Martin Lewis and his Moneysavingexpert website have encouraged millions of people to shop around for better deals. Why should you pay more than you need to for insurance?
However, in a bizarre reversal, some big companies are now boasting that theydon’t feature on price comparison sites. “Come to us for the Aviva deal” or “Go direct with Direct Line”, they say.
Now what possible reason could they have for this tactic? Are we meant to believe that they are offering better deals than everyone else, but they have decided to keep this a secret and not publicise it elsewhere?
It is the same story if you go to a financial adviser who is not independent. They can only offer a limited selection of products, but you are expected to believe that they are the best available and most suited to your needs.
In both cases my advice would be the same – compare the WHOLE market, not just one provider. As irritating as that meerkat might be, it is performing a valuable service, for free – so why restrict your choice?
It goes without saying that Mulberry Financial look at the whole meerkat to get the best deals for you.
The material here is for general information only and is not intended to be relied upon for individual investment decisions. Appropriate independent advice should be obtained before making any such decisions. Mulberry Financial Ltd does not accept any liability for any loss suffered by any user as a result of any such decision.
The information is based on our understanding of current HMRC rules and practices (as at the news article date) which are always subject to change. Taxation and trust advice and Cash ISAs are not regulated by the Financial Conduct Authority. This site is aimed at UK residents only.
Please remember that the prices of shares and other investments can fall sharply. You may not get back the money you originally invested. Past performance is not necessarily a guide to the future.
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